Meritus Gas Partners has entered into a partnership with Tulsa Gas & Gear LLC (TGG), a distributor of industrial and specialty gases, welding and safety supplies in northeast Oklahoma, US.
TGG is the fifth partner company to join the Meritus family of independent industrial gas distributors and the third this year.
TGG, which has headquarters in Tulsa, Oklahoma and was founded ten years ago, specialises in welding applications technology to the diversified equipment manufacturers based in the region.
Upon transaction close, Don Stobaugh and Lloyd Hyle will retire, while Steve Stobaugh, Don’s son, will become the company’s President. Johnny Stamps and John Scott will become Vice-Presidents of Sales and Operations, respectively. All former owners will roll-over significant equity ownership in Meritus.
Steve Stobaugh said, “Having grown up in the business under my father and our partners’ tutelage, it was extremely important to me that, as we considered how to navigate TGG’s future, we partner with a team that honored our legacy and approach but also provided us the management and financial support necessary to help elevate our business to the next level. It was for these reasons that we chose to partner with Meritus – and we are confident that this partnership is an ideal blend of the past, allowing us to maintain TGG’s independence and legacy brand, and the future, which requires additional capital investment for growth, operating expertise and expanded network partnerships to capitalise on the opportunities ahead.”
Financial terms of the transaction were not disclosed and follows partnerships Meritus has signed in 2021 with Volunteer Welding Supply, Inc. and OzArc Gas.
In December 2020, AEA Investors LP formed Meritus via partnerships with Gas Innovations and Atlas Welding Supply. Meritus intends to partner with owner-operators to assemble a national federation of independent distributors of industrial, medical and specialty gases and associated welding and safety supplies across the US.
“In keeping with our previously articulated strategy of building a best-in-class federation of high-performing independent industrial gas distributors, we are pleased to welcome TGG as the most recent addition to Meritus’ rapidly expanding network of partner companies,” said Meritus Chairman Scott Kaltrider.